Insurers hopes to maintain growth momentum
The general insurance industry hopefully will maintain its current growth momentum in 2017-18, having posted a 21.95 % growth in gross direct premium underwritten in the April-June quarter of this…
Adoption of IndAS by insurers deferred
IRDAI has deferred the implementation of Indian Accounting Standards (IndAS) by insurance companies till 2020-21. Rule 4 of the Companies (Indian Accounting Standards) (Amendment) Rules 2016 states that “the Banking…
How To Make a Claim – Life Insurance
Formalities for a death claim When a person with a life insurance policy – called a life assured – dies, a claim intimation should be sent to the insurance company…
Biggest merger of the country is back in IRDAI’s court
HDFC Life Max Life if the biggest merger in the country’s insurance sector, the HDFC Life-Max Life deal, has been returned by the Attorney General (AG) to the Insurance Regulatory…
China’s insurers lack the basic knowledge of own risk
China's insurers seem to be enjoying a golden age As over the past two years, premium revenue has risen by 88 % and total assets by 49 %, while claims…
Star Health may become the first health insurer to get listed
Star Health & Allied Insurance, the country’s first standalone health insurer, may also become the first health insurer to list its shares. It is considering selling shares to the public,…
Canara HSBC OBC Life targetting 30% growth
Canara HSBC Oriental Bank of Commerce Life Insurance is aiming for 30 % increase in its business this year. The focus is on addition of customers from tier-II and tier-III…
The implications of GST on insurance
With the implementation of the GST, price of goods and services are ready to get revised higher or lower depending on whether the new tax rate is greater or lower…
Health insurance firms to create database on fraudulent claims
India’s health insurance companies have banded together to create a database of hospitals and nursing homes that encourage fraudulent claims. The umbrella body of insurance firms, the General Insurance Council…
Cyber insurance is gaining popularity: Swiss Re
Day by day cyber information theft is increasing and people are showing interest in cyber insurance to secure their business Swiss Re emphasizes. In the Sigma report titled “Cyber: Getting…